AGF Management Ltd. Sells 2,669,963 Shares of Robinhood Markets, Inc. $HOOD

Key Points

• AGF Management cut its Robinhood stake by 59.7%, selling 2,669,963 shares and now holds 1,803,032 shares (about 0.20% of the company) valued at roughly $258.16 million, making HOOD its 20th largest position.
• Insiders have been heavy sellers, offloading 2,853,425 shares worth $354.45 million over the past 90 days (including sales by Steven Quirk and Daniel Gallagher), though insiders still own 19.95% of the company.
• Fundamentals and sentiment: Robinhood beat the quarter with $0.61 EPS vs. $0.41 expected and $1.27B revenue (up 100% YoY); the stock has a MarketBeat consensus of Moderate Buy with a $136.62 price target.

AGF Management Ltd. lessened its holdings in Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 59.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,803,032 shares of the company's stock after selling 2,669,963 shares during the period. Robinhood Markets accounts for 1.1% of AGF Management Ltd.'s holdings, making the stock its 20th biggest position. AGF Management Ltd. owned about 0.20% of Robinhood Markets worth $258,158,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HOOD. Hantz Financial Services Inc. boosted its stake in shares of Robinhood Markets by 120.3% in the second quarter. Hantz Financial Services Inc. now owns 271 shares of the company's stock valued at $25,000 after buying an additional 148 shares during the period. Valley National Advisers Inc. raised its holdings in Robinhood Markets by 113.6% in the 3rd quarter. Valley National Advisers Inc. now owns 188 shares of the company's stock valued at $26,000 after buying an additional 100 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in Robinhood Markets by 107.6% in the third quarter. Golden State Wealth Management LLC now owns 191 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares during the period. Smithfield Trust Co acquired a new stake in shares of Robinhood Markets during the second quarter worth $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Robinhood Markets in the third quarter valued at approximately $29,000. 93.27% of the stock is currently owned by institutional investors.

Robinhood Markets Stock Down 5.3%

HOOD opened at $95.87 on Monday. Robinhood Markets, Inc. has a 52 week low of $29.66 and a 52 week high of $153.86. The stock's fifty day moving average is $118.03 and its two-hundred day moving average is $119.99. The company has a market capitalization of $86.20 billion, a P/E ratio of 41.28, a PEG ratio of 1.55 and a beta of 2.44.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.20. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.15 billion. Robinhood Markets had a net margin of 52.19% and a return on equity of 21.74%. The firm's quarterly revenue was up 100.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. Equities analysts anticipate that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

HOOD has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $135.00 price objective on shares of Robinhood Markets in a report on Wednesday, January 28th. Compass Point restated a "buy" rating on shares of Robinhood Markets in a research report on Monday, October 27th. Dbs Bank upgraded shares of Robinhood Markets to a "moderate buy" rating in a report on Wednesday, November 12th. Barclays dropped their price objective on Robinhood Markets from $171.00 to $159.00 and set an "overweight" rating for the company in a report on Thursday, January 8th. Finally, Zacks Research lowered Robinhood Markets from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.62.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Steven M. Quirk sold 49,942 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $131.15, for a total transaction of $6,549,893.30. Following the sale, the insider directly owned 54,496 shares of the company's stock, valued at approximately $7,147,150.40. This trade represents a 47.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Martin Gallagher, Jr. sold 120,000 shares of the business's stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $132.13, for a total transaction of $15,855,600.00. Following the completion of the transaction, the insider owned 430,012 shares of the company's stock, valued at approximately $56,817,485.56. This represents a 21.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,853,425 shares of company stock valued at $354,452,058. Company insiders own 19.95% of the company's stock.

About Robinhood Markets

Robinhood Markets, Inc NASDAQ: HOOD is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to "democratize finance for all." Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood's core products and services include a mobile app and web platform for trading U.S.

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